Yes Bank gains over 10%

Yes Bank is among the top five gainers on the BSE. The stock price rose over 10% to Rs.227.65 and remains firmly in the green.

The market is happy that it inducted into the Board – TS Vijayan, former Chairman of IRDA and LIC and OP Bhatt, ex-CMD of SBI. They both have bene taken in as ‘external experts’ in the committee.
The Bank said that the committee also comprises of three existing board members of the Nomination & Remuneration Committee — Brahm Dutt, chairman and independent director, Mukesh Sabharwal, independent director and Subhash Kalia, non-executive non-independent director, along with these two external experts.

The company has invited proposals from global leadership advisory firms and will finalise the company in the committee’s first meeting, which is scheduled to be held on October 11. The Board meeting is scheduled for 25th Oct.

The stock price has risen on hopes that this expert committee will help zero-in on the right MD for the Bank.